CHINA’S shipbuilding industry continued to lead globally in the first eight months of this year with double-digit increases in output and new orders, industry data showed.

The country’s shipbuilding output reached 27.98 million deadweight tons (dwt) during this period, up 16.9% year on year, according to the China Association of the National Shipbuilding Industry.

New orders in China’s shipbuilding sector surged 86.5% from a year earlier to total 52.31 million dwt, according to the association.

The output accounts for 49% of the global total and new orders amount to a 68.8% share, the data showed.

China’s ship exports maintained robust growth momentum in the first eight months of 2023, with the export value surging 20.20% year on year to US$16.18 billion.

China’s shipbuilding industry, with its advanced construction capabilities, has provided substantial support to Chinese shipowners, propelling them to the forefront of global fleet management.

Data from Clarkson Research, a renowned shipping research institution, show that China has now overtaken Greece as the leading owner of global fleet tonnage in terms of gross tons. (SD-Xinhua)